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Beginner's Tips
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Mohammadi

Member Since Aug 11, 2017  550 posts Mohammadi Mar 08 at 05:48
So many new Forex traders try to make money from here without learning. As a result they become loser due to lack of exact trading knowledge. It’s a common thinking. I think by and large lose because they trade with emotions and don’t know how to manage money in Forex.

tracydavison

Member Since Feb 11, 2019  34 posts tracydavison Mar 10 at 06:48
Im a newbie so this is a great thread to follow :)

Treeny

Member Since Feb 08, 2019  80 posts Treeny Mar 11 at 07:19
tracydavison posted:
Im a newbie so this is a great thread to follow :)


Are you demo trading then Tracy?

Imamul

Member Since Aug 09, 2017  324 posts Imamul Mar 11 at 10:55
for beginners all currencies are good, just we have to experience with them by trading . We can trade all major currency in our demo account. Because we can see here the pairs performance how it works.

Mohammadi

Member Since Aug 11, 2017  550 posts Mohammadi Mar 11 at 19:29
If you want to lead a comfortable and secure trading life you have to choose a credible trading broker which guarantee their clients funds.

togr

Member Since Feb 22, 2011  4443 posts vontogr (togr) Mar 12 at 07:45
1. Prepare plan of trading
2. Focus and that plan, trade according to that. Keep focused on that ONE thing. Do not alter the plan or combine it with other techniques.
3. At any moment you have to KNOW what to do, keep trade open, close, do not trade...
4. If it works - voila keep it the way it is.
If it does not work - update the plan or make new one and go to point #1

Following these simle steps always lead to point #4
People does not have the patience though to achieve it. Are you an exception?

I like what I trade, I trade what I like
FaridAnwer

Member Since Mar 11, 2019  10 posts FaridAnwer Mar 12 at 08:08
All major currency are good. Exotics are horrible. Huge wins one day, huge losses the next. Better play around with eur, usd, cad, gbp all those are better for newbie

Imamul

Member Since Aug 09, 2017  324 posts Imamul Mar 12 at 10:55
generally we the traders select our trading target according to our knowledge and experience , i have seen our target fall when it not realistic, over target always make us greedy and emotional.  so it is more appropriate to ensure practical trading target.  

Q_FxTrader

Member Since Oct 08, 2018  141 posts Q_FxTrader Mar 12 at 15:11
Imamul posted:
generally we the traders select our trading target according to our knowledge and experience , i have seen our target fall when it not realistic, over target always make us greedy and emotional.  so it is more appropriate to ensure practical trading target.  

In my experience, the best practice to deal with emotions in trading is to use pending orders instead of market orders .

Placing market orders means emotions will definitely affect irrespective of how experienced a trader is and he is bound to make some mistakes by emotions. But pending orders at a fixed market price, stoploss and take profit don't have such problems of emotional trading.

@
ChristinaLedger

Member Since Mar 12, 2019  2 posts ChristinaLedger Mar 13 at 07:04
walpants posted:
I would love to be a successful trader but i know it takes time and dedication to learn,right now i am a long way from it but hopefully will get there one day.


i am always learning more as i go along, so i guess we are on this journey together!

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Commonwealth Bank Manufacturing PMI (18h 36min)
Crude Oil Weekly Technical Outlook: Pric...(22 min ago)
EURUSD 1.1019 GBPUSD 1.24675
USDJPY 107.551 USDCAD 1.32646

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.